Raymond James Financial Inc. Purchases New Position in Imperial Oil Limited (NYSEAMERICAN:IMO)

Raymond James Financial Inc. purchased a new position in shares of Imperial Oil Limited (NYSEAMERICAN:IMO - Free Report) TSE: IMO during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 129,584 shares of the energy company's stock, valued at approximately $7,982,000.

Several other institutional investors and hedge funds also recently made changes to their positions in IMO. Aigen Investment Management LP acquired a new position in shares of Imperial Oil in the 4th quarter valued at approximately $1,208,000. Atria Investments Inc boosted its holdings in shares of Imperial Oil by 28.1% in the fourth quarter. Atria Investments Inc now owns 4,141 shares of the energy company's stock valued at $255,000 after buying an additional 909 shares during the period. Metis Global Partners LLC increased its position in shares of Imperial Oil by 13.2% during the fourth quarter. Metis Global Partners LLC now owns 12,561 shares of the energy company's stock worth $774,000 after acquiring an additional 1,466 shares in the last quarter. US Bancorp DE raised its holdings in shares of Imperial Oil by 1.5% during the fourth quarter. US Bancorp DE now owns 20,408 shares of the energy company's stock worth $1,257,000 after acquiring an additional 296 shares during the period. Finally, Fisher Asset Management LLC lifted its position in Imperial Oil by 17.3% in the 4th quarter. Fisher Asset Management LLC now owns 4,673 shares of the energy company's stock valued at $288,000 after acquiring an additional 690 shares in the last quarter. Institutional investors and hedge funds own 20.74% of the company's stock.

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Wall Street Analysts Forecast Growth

Several analysts have issued reports on IMO shares. Scotiabank raised Imperial Oil to a "hold" rating in a research note on Wednesday, March 19th. JPMorgan Chase & Co. lowered Imperial Oil from a "neutral" rating to an "underweight" rating in a research report on Thursday, December 19th. Finally, Wolfe Research downgraded Imperial Oil from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $109.00.

Imperial Oil Trading Down 0.2 %

Shares of NYSEAMERICAN IMO traded down $0.18 during mid-day trading on Wednesday, hitting $73.16. The company had a trading volume of 316,966 shares, compared to its average volume of 431,672. The company has a quick ratio of 1.23, a current ratio of 1.34 and a debt-to-equity ratio of 0.17. The company has a 50-day moving average price of $68.88. The company has a market cap of $37.24 billion, a P/E ratio of 11.10 and a beta of 1.44. Imperial Oil Limited has a one year low of $60.95 and a one year high of $80.17.

Imperial Oil Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 5th will be issued a $0.4972 dividend. This represents a $1.99 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Wednesday, March 5th. This is an increase from Imperial Oil's previous quarterly dividend of $0.43. Imperial Oil's dividend payout ratio is presently 25.80%.

Imperial Oil Company Profile

Imperial Oil Limited engages in exploration, production, and sale of crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream and Chemical segments. The Upstream segment explores and produces crude oil, natural gas, synthetic crude oil, and bitumen. The Downstream segment transports and refines crude oil, blends refined products, and distributes and markets of refined products.